Sigh, PNSN had at its peak a market cap that's five times lower than the smallest company in my stock portfolio.  Even MF global was a comparatively small company in terms of financial importance.  Plus, Eurozone contagion risk (the primary culprit for MF global's failure) is already priced into markets, which would be much, MUCH higher otherwise (dow near the 17,000 mark sans Euro Debt Madness).

Regarding the protective advice - anyone doing business outside the realm of FDIC or SIPC insurance is stupid anyways. Keep an accurate record of your statements on a monthly basis and you'll be just fine, especially going forward over the next 25 years as risk and market volatility gradually subside.  Your risk of losing all your money betting on gold and silver is much higher than having your brokerage or bank collapse.